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January 22, 2025 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Monroe, Business Loans > First Heritage Bank Monroe Business Loans > Logging Loan | ||||
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Monroe SBA Lenders
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Monroe, Washington Bank Lends Money to Logging Company in Duvall, WashingtonWant to talk with a Monroe, Washington bank about an SBA loan? Here's one Washington business loan, issued by a Monroe bank, that was approved by the SBA. Applying for an SBA loan with First Heritage Bank worked out well for our friends at one local business in Duvall, Washington. The business was able to get an SBA loan for $536,000. Way to go! SBA Loan Borrower COMPANY TYPE: LOGGING SBA Loan Lender FIRST HERITAGE BANK This SBA business loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 113310 - Logging Loan Approval Date 3/1/2007 Loan Approval Gross Amount $536,000 Loan Approval from the SBA Of the total $536,000 loan amount, the SBA guaranteed $402,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 25 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Heritage Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Heritage Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Obtaining Funding From a Venture Capitalist Best Monroe, Washington Banks for Small Business SBA Participating Banks in Washington
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